The ground that has been home to the likes of India's World Cup winning captain Kapil Dev among others will host a one-day international cricket match after 14 years.
The centrally located Sector 16 stadium in Chandigarh, will host the ODI between India and Australia on October 8.
Former president Ranbir Singh Mahendra on Tuesday formally informed the Chandigarh Administration about the decision of the Board of Control for Cricket in India (BCCI) to hold the tie in Chandigarh.
Top administration officials assured Mahendra that the newly renovated stadium would be made ready for the event just over three months away.
Adviser to the Chandigarh administrator, Lalit Sharma, said that the best international standard facilities would be made available for the match. He added that all requirements of the BCCI and the International Cricket Council (ICC) would be met.
Besides facilities for players, officials, media and spectators, a giant electronic scoreboard was being installed.
The stadium - once the hub of cricket activity north of Delhi - hosted its last international match in 1993.
The stadium was a practice venue for teams like Australia, Sri Lanka, New Zealand and Bangladesh during last year's Champions Trophy. The matches were held at the Punjab Cricket Association (PCA) stadium in Mohali, 10 km away.
Mohali took over the venue for international matches in the region since its completion in 1994.
Sri Lanka and Bangladesh played a practice match the 25,000-capacity Sector 16 stadium after it was fully renovated following 10 years of neglect.
Floodlights are likely to be installed in preparation of the October 8 match.